Union Pacific’s 1Q Profit Rises
Union Pacific Corp. said Thursday its first-quarter profit rose 15% as revenue rose in each of its six business units.
The freight railroad’s net income rose to $443 million, or $1.70 a share, from $386 million, or $1.41, last year.
Sales rose 11% to $4.3 billion, while operating income rose 10% to $788 million.
The gains were led by agricultural products, which saw a 24% revenue jump. Intermodal freight revenue gained 5%, UP said.
“It was a solid quarter for us as we converted profitable revenue growth and reliable, efficient service into record earnings despite a soft economic environment,” Chief Executive Officer James Young said in a statement.
Union Pacific, the largest U.S. freight railroad by revenue, operates west of the Mississippi River.
